Significant Transactions with Related Parties

12 Months Ended

Sep. 30, 2018

Significant Transactions with Related Parties [Abstract]

SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

9. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Accounts payable – related parties were $Nil as of September 30, 2018 (September 30, 2017 - $9,934) for expenses to be reimbursed to directors. This amount is unsecured, non-interest bearing, and has no fixed terms of repayment.

Subscriptions receivable – related parties was $15,000 as of September 30, 2018 (September 30, 2017 - $Nil) for the amount owed to the Company from one director for the exercise of his stock options. This amount was subsequently paid to the Company.

As of September 30, 2018, officers, directors, their families, and their controlled entities have acquired 53.96% of the Company’s outstanding common capital stock. This percentage does not include unexercised stock options.

The Company incurred expenses $140,274 to one related party, Concorde Consulting, an entity controlled by a director, for professional fees and consulting services provided to the Company during the year ended September 30, 2018 (September 30, 2017 - $136,980). These amounts were fully paid as of September 30, 2018.